Baltimore Casino Developer Negotiating With Additional Investor

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The state of Maryland is quick at work attempting to expand casino gambling. Their latest effort, however, was stalled this week when the Baltimore City Entertainment Group asked for more time to make a payment on a self-imposed deadline.

The company had hoped to make a $19.5 million gambling license payment by this week, but instead asked for more time. The company claims to be in negotiations with an additional lender. The chairman of the state panel choosing slot locations, however, is beginning to wonder about the group.

"This is not the first investor we have heard of," said Donald C. Fry, "We have heard they have been looking for investors for several months." the delay could end up with the Group losing the right to open the slot parlor.

The state commission will be meeting next week, and the missed payment this week will not help the Baltimore Group keep their potential license. The commission has the right to re-open the bidding if they feel that the state would be better served to do so.

The company insists that this latest investor and themselves are in the final stages of their negotiations. With the commission meeting next week, however, it may be too late for the Group to salvage the license.

The plan for the Baltimore casino, which would be located near where the Baltimore Ravens play their home games, is to have over 3,500 slot machines. The original plan called for a 500 machine facility, but the company was pushing the 3,750 machine establishment this past summer. No plans for that slot parlor have ever been submitted for approval.

December 11, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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